UN-aided project in HP to cut down CO2 emmissions
The silent revolution is taking place in mid and high hill ranges of Himachal where community participation in watershed management programmes is making strong headway for success of India`s first clean development mechanism (CDM) project, an official said.
According to the Himachal Pradesh government, the project is registered for carbon credits by the UN under which the World Bank will buy carbon credits from the new forests/plantations being developed on degraded areas in 177 gram panchayats covering around 4,000 hectare land falling in 10 districts of the state.
"The project would impact an area of 4,003.07 hectares which surpasses the 3,500 hectares for CDM project of China, to make it the largest project of its kind in the world," Chief Project Director of Mid Himalayan Watershed Development Project R K Kapoor said.
"It will reduce 40,000 tonnes of carbon dioxide per year for a 20-year crediting period beginning from the year 2006.
The project is initially for 20 years which can be extended to total 60 years period," he said.
The project is estimated to generate a carbon revenue of at least Rs 20 crore to the communities and individual landholders for the first crediting period of 20 years which is strong incentive to protect forest cover in the area.
"The first payment is likely to be received by the next 2 years," Kapoor said.